Growth opportunities in global pumps market
Published by Francesca Brindle,
Editorial Assistant
Hydrocarbon Engineering,
Growth in the global pumps market continues to pick up pace, driven by rapid development in the water, wastewater and sanitation, and chemical industries. Government stimulus programmes, which are encouraging manufacturing plants and industries to invest more in energy-efficient upgrades, will also boost innovation and technology development in pumps. In the power sector investments alone are expected to touch US$126.9 billion in pumps in 2017. However, opportunities will vary across geographic regions and pump types. For instance, stiff competition from European and Asian manufacturers is likely to affect North American pumps sales, as improved quality and competitive pricing make these imports viable alternatives to American pumps.
For the global pumps industry as a whole, long-term growth will be determined by manufacturers’ and suppliers’ competitive pricing strategies and their preparedness for disruptive shocks from other countries,” said Frost & Sullivan Industrial Automation & Process Control Research Analyst Shilpa Mathur Ramachandran. “Compelling, fresh, and strategic perspectives on collaboration and consolidation will be necessary to drive long-term growth of larger market players in the high-growth markets.”
Expected market developments for 2017 include:
- Advanced design pumps with more electronic features that enable better system integration and system efficiency.
- Growth spurt in North America due to stabilizing oil prices that will bolster the pumps market.
- Sustained growth expectations from China to boost Asia-Pacific pumps revenues.
- Growing innovations in robotics for upstream processing applications and primary packaging that will bring new opportunities for pumps.
- Slightly faster growth for positive displacement (PD) revenues than centrifugal pumps; rising investments in biotechnology for wastewater treatment and booming fracking activities in the US will push demand for PD pumps, especially peristaltic and progressive cavity types.
- Potential for high-pressure and high-flow centrifugal pumps in industrial applications; single and multi-stage radial-flow pumps will be used extensively.
- Massive capital expenditure investments in specialty chemicals, will give competitive advantage to manufacturers offering a comprehensive package constituting flow control solution and automation technologies, along with diagnostic capabilities.
“Companies should focus on becoming solution providers rather than stand-alone equipment providers,” noted Ramachandran. “Offering a full end-to-end solution is an important competitive factor in the mass commercial pumps market. Suppliers need to work with their clients to understand problems and then provide customised solutions.”
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/02052017/growth-opportunities-in-global-pumps-market/
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